I'm looking into buying an Ibanez RG5SP2 some time later today. It's used and being sold for $230. It's in very good condition and still has the plastic on the backplate and the truss rod. I've read that it has the same specs as the RG350 series so it sounds alright to me.

What I'd like to know is if I'm getting a good deal on it and what kind of pickups should I throw in it if I get it?
Well i have the rg350dx and i swapped out the bridge pup for a bill lawrence l500xl. The INF3 was a better pup imo. I hear its based on a paf pro joe but who knows. It sounded pretty good.
You didnt say what you play or anything so pickup choice is subjective. Assuming you like metal cuz its an ibanez... Put it emg's. Everybody uses the ****ing things.
Is that how much your budget is? If it is then go for it however if you do have more then you might be able to afford something a bit better. As for the pickups that depends on what amp you have now and what type of sound you want but it's probably better to wait 'til you have your guitar and then choose the pickup.